“While a widening affordability gap in Canada’s largest urban centres is characterizing the national market Canadians read about daily, year-over-year house price increases in most regions of the country are presently tracking below the historical average.”

Royal LePage projects the national average house price will increase by 5.1 per cent for the full-year.

“Looking ahead to 2015, we expect house prices to track more closely to the rate of general economic growth,” Soper said. “That is, we see price increases in Canada’s largest cities moderating, just as our smaller city markets should see a lift.”

Royal LePage is the country’s leading provider of services to real estate brokerages, with a network of over 15,000 real estate professionals in over 600 locations countrywide.